Blogs

Regulatory Transitions Pave the Way for Consolidation in the Real Estate Sector

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Rera

Sector to stabilise in 2018 as both real estate developers and customers become attuned to the changed regulatory scenario Regulatory changes introduced in the real estate sector such as implementation of the RERA regime, introduction of the insolvency and bankruptcy code and coming into force of Goods and Services Tax (GST) may have impacted its operational performance but are expected to pave the way for the industry’s consolidation going forward, says an analysis by ICRA. ICRA also expects that the industry will stabilise in 2018 as both real estate developers…

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Budget 2018: Housing Sector Eyes Lower taxes, Infra Status to Overcome Impact of GST, RERA and Demonetisation

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Rera

Mumbai: Severely impacted by various reforms like RERA, GST, and demonetisation, the realty sector is pinning its hopes on Union Budget 2018-19 for relief measures like lower taxes and infrastructure status. The year 2017 was an eventful one for the sector with many structural policy reforms, which resulted in a significant decline in home launches to 1,03,570 units compared to 1,75,822 in 2016. Industry players are expecting rationalisation of the GST rates from the current 12 percent to 6 percent and bringing stamp duty under the ambit of GST. “Also, industry…

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Notice for brokers’ registration soon

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Rera

Real estate brokers marketing new projects are under its purview.Homebuyer Madhav Mishra said many brokers often make lofty promises to attract consumers. Statistics available with the Confederation of Real Estate Brokers Association of India’s (Crebai) Maharashtra chapter reveal that 7,000 property brokers have registered with MahaRERA and it now wants to make registration of the brokers mandatory.Crebai members, however, said with nearly 80% of the brokers dealing with secondary or re-sale property, there is a hesitation among them for the registration. Kamdar said they have raised the issue with MahaRERA.The…

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RERA’s reach: Around 20,000 real estate projects registered – See Maharashtra, Noida, Gurgaon details

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real-estate

Around 20,000 projects across the country have been registered under the Real Estate (Regulation and Development) Act, a senior housing and urban affairs ministry official said. Of the total number of projects registered, as many as 12,000 are in Maharashtra, one of the first states to implement the Act, the official added. In UP, around 2,000 projects have been registered, with Gautam Budh Nagar and Noida together accounting for over 1,000. “While in Haryana, nearly 400 projects have been registered, states such as Karnataka, Gujarat, Rajasthan and Andhra Pradesh have…

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